17 December 2018
Refining pivots towards Asia
Refining expansions were focused East of Suez, as the likes of China and India ramped up processing capacity and rubber-stamped new projects
The global refining sector saw mixed fortunes in 2018, though for most of the year margins were holding up strongly. While European refineries were generally hampered by their high exposure to a tepid domestic market, in the US, refiners on the Gulf Coast looked better positioned. They still enjoyed privileged access to burgeoning light-tight oil production that meets looming low sulphur requirements. China proved itself to be a major driver of activity, with the authorities encouraging independent refiners to source their own supplies of crude. In May, China's Hengli Petrochemical—based in the Port of Dalian in northern China—leapt into prominence when the commerce ministry gave it the gree

Also in this section
24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand
24 July 2025
Despite significant crude projections over the next five years, Latin America’s largest economy could be forced to start importing unless action is taken
23 July 2025
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector